Barnes & Noble takes over SOU store

Southern Oregon University is selling its bookstore inventory and handing over store management to Barnes & Noble College, a division of the national chain.

Teresa Ristow

Southern Oregon University is selling its bookstore inventory and handing over store management to Barnes & Noble College, a division of the national chain.

SOU will pay Barnes & Noble a flat management fee each year and then reap about 14 percent of the annual profits, said SOU Vice President of Finance and Administration Craig Morris.

"We did not 'sell' the bookstore, but we entered into a contract with Barnes & Noble for them to manage it for us," said Morris. "They will buy the books and pay the salaries of employees."

Morris said the bookstore's inventory is in the process of being assessed, and SOU will be paid fair value for all of the books and other merchandise, an estimated $600,000.

Profits from the inventory payout, along with existing cash and unsettled transactions, will total about $1 million and will be moved from the SOU bookstore fund into the general fund, Morris said.

The bookstore closed last week following SOU graduation and reopened Monday under Barnes & Noble management.

The bookstore's three administrative employees accepted contracts with Barnes & Noble and will shift their employment status July 1, while two classified bookstore employees will remain contracted with SOU.